WELL Health Medical Clinics
The WELL Health Medical Clinic Network currently comprises of 20 clinics in British Columbia, 5 clinics in Quebec and 2 clinics in the United States. This makes us the largest single chain of primary healthcare clinics in British Columbia and one of the largest in Canada. Our team has over 200 healthcare practitioners, helping us serve patients every day. Our clinics are the core of our organization. They offer a wide array of services such as walk-in appointments, family medicine, sleep apnea facilities, Botox treatments, and women’s health clinics. Our clinics also inform us on the ways in which we can improve our products to best address the concerns of healthcare workers and patients.
Learn more at wellclinics.ca
Spring Medical, based out of Burnaby, BC, is a premier provider of integrated medical services. Spring Medical offers an extensive range of services including family physician, pediatrician, physiotherapy, chiropractic, acupuncture, massage therapy, reflexology, hearing aid specialist, counselors and many more. Spring Medical streamlines the process of providing health services to patients by having a wide range of services available in one convenient location.
On December 2, 2019, WELL acquired 51% majority ownership in Spring Medical with an investment of $667,000. In the 12 months prior to the acquisition, Spring Medical generated more than $2.3 million in revenues with EBITDA margins exceeding 10%. Spring Medical currently provides services to approximately 27,000 patients in all areas of care.
Learn more at springmedicalcentre.com
On December 8, 2020, WELL Health Technologies Corp. acquired all the issued and outstanding shares of ExcelleMD Inc and its affiliate VirtuelMED Inc for $4.5M. ExcelleMD’s Annual Revenue Run-rate at the time of the acquisition was approximately $6M with operating EBITDA margins greater than 20%. This highly accretive acquisition marks WELL’s entry into the province of Québec as well as higher margin corporate and executive health services. ExcelleMD has also created a network of non-corporate owned affiliate locations that participate in its executive health offerings across the country.
ExcelleMD group has 26 medical practitioners and 12 nurse practitioners providing healthcare services across two clinics in Montreal in L’Acadie and Outremont regions, two clinics located in Saint-Eustache and one in Terrebonne. ExcelleMD is an omni-channel healthcare provider servicing companies, executives, and consumers. In addition to providing primary care services, ExcelleMD also provides additional healthcare related services and treatments including sports medicine, management of ADD (attention deficit disorder), andropause (low testosterone), comprehensive health check-ups, corporate health services, screening for STDs, and care for mental health. In addition, the clinics screen, diagnose and treat diabetes, high cholesterol, and hypertension.
On May 3, 2021, WELL Health Technologies Corp. announced completion of the acquisition of ExecHealth Inc. For the 12 months ended February 28, 2021, ExecHealth had unaudited revenues of approximately $3M, of which greater than two-thirds is recurring membership revenue with EBITDA Margins exceeding 50%.
ExecHealth is an omni-channel healthcare provider located in Ottawa, Ontario, specializing in corporate and executive health, primary care and integrated health services. Since 2005, ExecHealth has provided medical care to professionals and families, including executives, diplomats and other professionals in the Ottawa region. In addition to providing primary care services, ExecHealth provides corporations and other organizations with executive health, employee wellness, pre-employment and periodic medical exams as well as other integrative services such as physiotherapy and counselling services. ExecHealth is a high growth operation that has organically grown both its revenues and EBITDA at growth rates of over 20% over the past three years. As a result of the COVID pandemic, over half of ExecHealth’s patient visits are currently delivered via telehealth vs. in-person consultations.
ExceHeallth is the first acquisition WELL has made of clinical assets in the Province of Ontario, representing WELL Health Clinic Network’s continued expansion into the premium margin corporate and executive health services market.
Learn more at exechealth.ca
WELL Health Specialist Clinics
In early March 2020, WELL opened its new dermatology clinic in North Vancouver known as the “DERMLab”. The DERMLab features three of Vancouver’s eminent dermatologists, who will treat patients for a variety of medical dermatology and cosmetic services and has been outfitted with state-of-the-art equipment that can address more than 20 unique indications on all skin types.
Learn more at dermlab.ca
- North Vancouver